• Mike Miller

Millennials are Playing a Different Game

Updated: Dec 13, 2019

Millennials have been taught to play basketball while the real world has changed the game to football. We aren't playing the same game of life that our parents played. The game is changing fast and if we recognize that and adjust we have a chance.


The game my parents, and likely your parents, played was go to school, get good grades, get a job, and work your way up the ladder to retire at 65. Mothers stayed home with the kids and Fathers progressed in their careers with 1 or 2 companies. Today we see mostly two income homes just to make ends meet and if you have worked at the same company for more than 5 years something is wrong with you.



The cost of living is increasing faster than wages. Upward career mobility is virtually non-existent. We continue to beat our heads against the wall and expect things to turn out as it did for our parents. Although I am a little slow, what I finally realized is that I wasn't playing the same game as my parents. Success wasn't going to be achieved the same way it was for my parents. Our parents were playing basketball and we are over here dribbling a ball on a football field looking for the hoop wondering why we can't win.


According to a recent article by Megan Leonhardt from CNBC, Megan states,

Millennials should aim to set aside nearly half of their income for the future, If you want to live off even half of your final salary in retirement, you need to save 40% of your income over the next 30 years.

She also goes on to say that if you can work into your 70's you should and delay retirement and defer claiming Social Security until you are over 70. You can read more about the depressing financial future we face as Millennials if we insist on following the status quo.


We are faced with a not so pleasant financial future should we try to follow in our parents' footsteps. There will undoubtedly be a small percentage of us Millennials that understand this and want to do something about and a larger percentage that either don't understand or they do understand but aren't willing to do anything about it.


I am not willing to save 40%+ of my income for 30+ years just to live off half my salary or work into my 70's. I don't know how you feel, but the options laid out in this article are unacceptable. Life is not meant to be lived well below your means for 40+ years and/or sacrifice 50+ years of your life to a job that doesn't pay you enough to enjoy your life, just so you can try to enjoy what's left of your life after 75 years.


What can we do about it? Millennials have to find new vehicles that change the game. The side hustle! Whether we drive uber and lyft, rent a room on Airbnb or build an e-commerce business, we have to look at different avenues to secure a financial future that provides us with a life we can get excited about. Find something that has the ability to provide you with the long term results you want in life.


Uber and lyft are good options for some quick cash, but at an average of $9 per ride, I'm not interested in becoming a part time taxi driver for the next 50 years either. Know where you want to go and start looking for ways to get you there because you the writing is on the wall if you continue down the path of average. Check out a recent article I wrote about finding the right vehicle and see what makes sense for you and your goals.





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